answersLogoWhite

0


Best Answer

Not much. You are paying someone to hold a property for a short period of time because you want to buy it. You are giving a deposit. But unless you put it in writing, the seller is under no obligation to sell to you, nor are you obligated to buy. Basically it is a tactic designed to make all parties feel that you are buying the property in hopes that they won't continue to entertain other offers.

User Avatar

Wiki User

9y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What legal effect does an expression of interest deposit have?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Can a landlord use your security deposit for their own bills and ask you to pay the security deposit again I live in Oregon?

I don't think so, I don't believe any Landlord has the legal right to demand a Security Deposit be payed twice. I suggest you seek legal counsel.


How do you deposit on bet365 from India and Pakistan?

The legal limitation does not allow you to make deposit on bet365 directly from India and Pakistan. But you can still make deposit using online payment processors like Neteller..


Is it legal to keep a deposit on a motorcycle in Ohio?

A deposit is a promise to buy the vehicle As you have made a deposit the seller has agreed not to sell the vehicle to anyone else. This is a binding contract and in most Places the seller can force you to buy the vehicle. If he allows you out of the deal and keeps the deposit you are luck he only charged you the deposit.


How can you find out if someone elses car has been reposed that you have a interest in but not a legal interest?

carfax


What is call deposit receipt?

A Call Deposit Receipt is a certificate issued to government institutions and corporations as a type of security deposit. The institution or corporations it is issued to can redeem it at any time for legal tender from the issuers account.


Is it legal to Copy your paycheck?

Yes, as long as you don't try to cash or deposit the copy.


What is the Latin legal expression meaning with equal pace?

Pari Passu


Legal expression from latin meaning equal pace?

Pari Passu


Is it legal to loan money without interest?

Sure.


If a landlord allows a property to foreclose does the tenant still have legal rights to return of their deposit?

Yes.


Can you charge interest on interest in the sate of MA Someone is sending me a bill with an interest charge on it and now theyre charging interest on the interest Is this possible or even legal?

no, its called usury and its illegal


What is the legal interest rate in NJ for condominium associations?

Your governing documents could specify the interest rate.